J.P. Morgan Remains a Hold on Nikola (NKLA)

In a report issued on July 20, Bill Peterson from J.P. Morgan maintained a Hold rating on Nikola (NKLAResearch Report), with a price target of $7.50. The company’s shares closed last Thursday at $6.32.

According to TipRanks.com, Peterson is a 3-star analyst with an average return of 3.0% and a 47.1% success rate. Peterson covers the Technology sector, focusing on stocks such as Archer Aviation, Joby Aviation, and Plug Power.

Currently, the analyst consensus on Nikola is a Hold with an average price target of $8.42, representing a 44.7% upside. In a report issued on July 18, Deutsche Bank also maintained a Hold rating on the stock with a $7.00 price target.

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Based on Nikola’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.89 million and GAAP net loss of $153 million. In comparison, last year the company had a GAAP net loss of $120 million.

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Nikola Corporation (NASDAQ:NKLA) focuses on providing zero-emission transportation solutions. It is engaged in manufacturing heavy-duty commercial battery and hydrogen fuel cell vehicles. Meanwhile, through its Energy business, Nikola provides charging and infrastructure support to its vehicles and third-party customers.

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